RR Advisors LLC Takes Position in Plains All American Pipeline Lp $PAA

Key Points

• RR Advisors LLC acquired 62,549 shares of Plains All American Pipeline in the second quarter, valued at approximately $1.39 million and representing 0.4% of its portfolio. Institutional investors collectively own 41.78% of PAA.
• Plains All American Pipeline reported quarterly EPS of $0.41, below the $0.50 consensus estimate, while revenue rose 66.3% year over year to $17.69 billion.
• The company declared a quarterly dividend of $0.4175 per share, equating to an annualized dividend of $1.67 and a 6.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $23.54.

RR Advisors LLC purchased a new stake in Plains All American Pipeline Lp (NASDAQ:PAA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 62,549 shares of the company's stock, valued at approximately $1,392,000. Plains All American Pipeline comprises approximately 0.4% of RR Advisors LLC's portfolio, making the stock its 25th biggest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Pinnacle Holdings LLC acquired a new position in Plains All American Pipeline in the 2nd quarter valued at about $119,000. Allied Private Wealth LLC acquired a new stake in Plains All American Pipeline during the second quarter worth approximately $33,000. Apella Capital LLC boosted its holdings in shares of Plains All American Pipeline by 6.2% during the second quarter. Apella Capital LLC now owns 35,769 shares of the company's stock worth $811,000 after acquiring an additional 2,080 shares during the period. DV Trading LLC boosted its holdings in shares of Plains All American Pipeline by 148.1% during the first quarter. DV Trading LLC now owns 82,454 shares of the company's stock worth $1,841,000 after acquiring an additional 49,221 shares during the period. Finally, NewEdge Advisors LLC grew its position in shares of Plains All American Pipeline by 2.8% in the first quarter. NewEdge Advisors LLC now owns 121,215 shares of the company's stock valued at $2,707,000 after purchasing an additional 3,246 shares during the last quarter. Institutional investors own 41.78% of the company's stock.

Plains All American Pipeline Price Performance

Shares of NASDAQ PAA opened at $24.61 on Monday. The company has a market capitalization of $17.36 billion, a PE ratio of 6.82, a P/E/G ratio of 8.51 and a beta of 0.50. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. Plains All American Pipeline Lp has a twelve month low of $15.69 and a twelve month high of $25.03. The firm has a fifty day simple moving average of $23.21 and a 200 day simple moving average of $22.27.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.09). The business had revenue of $17.69 billion during the quarter. Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.13%. The business's revenue for the quarter was up 66.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 earnings per share. On average, sell-side analysts forecast that Plains All American Pipeline Lp will post 1.77 EPS for the current year.

Plains All American Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a dividend of $0.4175 per share. The ex-dividend date was Friday, July 31st. This represents a $1.67 annualized dividend and a yield of 6.8%. Plains All American Pipeline's dividend payout ratio is 46.26%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. US Capital Advisors lowered shares of Plains All American Pipeline from a "strong-buy" rating to a "moderate buy" rating in a research report on Friday, May 29th. Wall Street Zen upgraded shares of Plains All American Pipeline from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Truist Financial raised their target price on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. Weiss Ratings cut Plains All American Pipeline from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Finally, Royal Bank Of Canada increased their price target on Plains All American Pipeline from $23.00 to $26.00 and gave the stock a "sector perform" rating in a research report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Plains All American Pipeline has an average rating of "Hold" and a consensus target price of $23.54.

Plains All American Pipeline Profile

Plains All American Pipeline NASDAQ: PAA is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.

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